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Republicans Announce Second Attempt at Wall Street Deregulation

Waters Criticizes GOP for Putting Wall Street before Main Street

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Washington, January 8, 2015 | comments

Following the announcement by the House Rules Committee that on Monday it will consider H.R. 37, a package of 11 bills designed to undermine important Wall Street regulation, Congresswoman Maxine Waters (D-CA), Ranking Member of the Financial Services Committee, criticized House Republicans for continuing to push legislation benefitting Wall Street at the hands of American consumers. This week, House Democrats defeated Republican efforts to fast track the same measure through a process known as suspension of the rules.

She released the following statement:

“House Republicans continue to stop at nothing to push legislation that benefits Wall Street’s biggest banks at the expense of American consumers. Last year, GOP leadership snuck a sweetheart giveaway for banks like JP Morgan and Citigroup into a must-pass spending measure. On just the second day of the Congressional session, they continued that strategy by trying to push through a complicated package of 11 bills to deregulate Wall Street. Fortunately, House Democrats joined together to stop that effort from moving forward. But Republicans won’t be daunted in their efforts to gut important Wall Street reforms.

Next week, House Republicans will take another shot at deregulation – making it clear that nothing will stop their efforts to make rewarding the biggest banks the first order of business in this Congress.

At a time when the American people are still hurting, I am disappointed that House Republicans are continuing to waste our valuable time on bills that help Wall Street and hurt Main Street. Americans are still suffering from the impacts of the worst financial crisis in a generation. They need their elected leaders to work for them, not for the mega-banks.”

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